Max Monday: How to Find Inspiration and Self-Discipline

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A Market Mega-Trend Has Been 20 Years in the Making - and It Just Hit a Tipping Point It's set to make history. And it begins now, right here, where you have a chance to become one of the first people in the world to experience the massive profit potential delivered by the V3 Effect. Click here to see it in action. June 24, 2019 Max Monday: How to Find Inspiration and Self-Discipline By Tim Melvin Dear Reader, Happy Monday! Now that summer is officially here, I've collected here my list of weekly reads so that all of you will have something to make all of those extra hours of porch and beach time more fun and productive. I hope you can follow some life-changing ideas included in these texts. So let's take a look at the books and then several quick-dive articles that I recommend adding to your library for greater financial success... This Week's Books Meditations of Marcus Aurelius This collection of musings and thoughts by Marcus Aurelius, the last great Roman Stoic and Emperor, is as relevant today as it ever was. Warren Buffett, Bill Gates, Nassim Taleb, and several other business leaders and investors have expressed a fondness for the principles of stoicism, and credit their philosophy for much of their success. There is an edition for the Amazon Kindle that is free right now so this one won't even cost you any money. You can get your own copy here. Drunk on a Plane: The Misadventures of a Drunk in Paradise: Book 1 by Zane Mitchell This is not intellectual fiction, or heavy reading by any means. This is a by the pool, at the beach Tiki bar reading for pure pleasure. As the Amazon description says, "If you're interested in a bit of Caribbean flavored action and adventure, with a hint of sexual tension, a dash of unapologetic profanity, and a kick-ass ending, then this is your book." Best of all, there are already 3 more books in the series. It's not literature, but it is great brain candy for a warm summer's evening. Pick up your own copy here. Just Capital This is an interesting project to find those companies that balance shareholders, employees, customer and the world we live in today. It's no secret that income equality and poor corporate behavior have reached the point where one has to admit it's problematic at best, and a looming crisis at worst. Before you jump to the conclusion that this is another one of the anti-capitalism groups springing up, you should know the founder here is Paul Tudor Jones, a well-known trader and investors. Members of the board include Robert Deutsch of JP Morgan Exchange Traded Funds Board, Randall Lane of Forbes, and Kip Tindell of the Container Store. Research Partners include MIT, Harvard, Columbia University and the University of Chicago. Just Capital is pro-capitalism and looking for ways to make it work for everyone. I found this site to be incredibly interesting and thought provoking. To read more, click here. The Appeal of 21st Century Stoicism I am a huge fan of the Stoic philosophers. I find the lessons learned form reading them applicable to both life and markets. In investing, the core concept of not being able to control what happens, but able to control how we act to events is the core principles that result in huge profits. Asking what can go wrong before undertaking any endeavor, and being ready for those risks is another key principle of Stoicism that prepares you for a successful investing career. The habit of first asking, "What can go wrong?" instead of, "How much money can I make?" will carry you to a fortune. You can find out more here. Howard Marks Memo Howard Marks is the founder and CEO of Oaktree Capital, a wildly successful investment firm with a focus on credit, and distressed credit investing. He didn't survive 4 decades in this difficult business without picking up lots of wisdom along the way. He shares that wisdom with investors every so often in these memos, and in his two books: The Most Important Thing, and the latest offering, Mastering the Market Cycle: Getting the Odds on Your Side. You should read the whole memo, but for me this was the most important passage, "Clearly the few who buy in the first stage, when optimism is scarce and thus asset prices are low, can access great bargains. But those who buy in the last stage, out of a belief that the news will always be good, can be making a big mistake. The nine propositions reviewed above all represent variations on 'things can only get better forever.' If they're the ideas guiding investors today, that should be considered worrisome. The best investments often are made in times of fear and desperation. That's rarely possible when investors are willing to blithely dismiss the limitations of the past with the words 'this time it's different.' I would remind those investors of a quote usually attributed to Mark Twain: 'History doesn't repeat itself, but it does rhyme.' Of course, it's important that investors keep up with current developments and those that will shape the future. But it's also essential that they not completely unlearn the lessons of the past." Click here to read more. Five Questions: Investing in Human Freedom with Perth Tolle While not generally a fan of Exchange Traded Funds, the new ETF based on Perth Tolle's Index - Life and Liberty Freedom 100 - is intriguing. She ranks countries by the level of individual liberty based on criteria developed by Fraser Institute, Cato Institute, and Friedrich Naumann Foundation for Freedom. In the interview she tells us that, "Based on history, we know that countries with more reliable freedom protections have done significantly better than those that don't. Our research shows that freer countries experience more sustainable growth, faster recoveries from drawdowns, and more efficient use of human and economic capital." She further discuses some of the countries that are currently in the indexes, and how they fund is constructed. It's a very cool idea and worth investigation. Read more here. To the Max, Tim Melvin Here's what else I'm following... The Five Little-Known Reasons Oil Could Hit $400 In his newly released intelligence briefing, Dr. Kent Moors issues the most shocking predictions of his career: five reasons why oil could soon soar to over $400 per barrel, PLUS five ways rising oil prices could hand you profits of up to 823%. Go here to see everything. 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